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    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

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    Air Sierra Leone commences flight operations to Lagos

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    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

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    Dangote Group announces major investment in rice production

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    • Policies
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    • Economic Data
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    • Agriculture
    • Companies
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    Court sanctions transfer of Access Bank Plc Shares to Holding Company

    Access Bank completes the acquisition of National Bank of Kenya

    ELECTION: Cutix Plc reschedules Board Meeting

    CUTIX PLC reports N1.1 billion profit for the FY ended April 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

    List of Stockbrokers in Nigeria

    Weekly Market Report: NGX market capitalization settles at N70.46 trillion

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

    Dangote Group announces major investment in rice production

    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

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    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    SEC approves Busha and Quidax as crypto exchanges in Nigeria

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    How does family of 6 survive with income of N250,000 a month

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    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

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CFDs Review August 10, 2020 to August 14, 2020: Forex, Indices and Commodities

Sunday, 16 August 2020, 9:51 pm
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CFDs Review June 29, 2020 to July 3, 2020: Forex, Indices and Commodities
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On Monday, the greenback appreciated against most major rivals. However, the Pound was resilient, posting a modest intraday advance against its American rival.

Dollar’s strength could be attributed to weekend news indicating that US President Trump signed four executive orders on fiscal aid.

Gold prices kept retreating from record highs, with spot gold ending the day around $2,025 a troy ounce. Crude oil prices remained stable, with WTI settling at $42.00 a barrel.

The Dow Jones Industrial Average added 357.96 points, or 1.3%, to 27,791.44, the S&P 500 put up 9.19 points, or 0.27%, to 3,360.47 and the Nasdaq Composite lost 42.63 points, or 0.39%, to 10,968.36.

  • Read also; Nigerian Stock Market Review and Stock pick for the week ahead 17th Aug. – 21st Aug. 2020
  • Unemployment Rate continues to rise in Nigeria even as Labour Force declines

On Tuesday, the dollar initially fell with mounting risk-appetite, but recovered its good shape in the US afternoon, recovering the ground lost against its high-yielding rivals and reaching fresh highs against most other major currencies.

Gold plunged, with spot down to $1,909.90 a troy ounce, shedding roughly $120.00 in the day. Crude oil prices followed equities’ behaviour, ending the day in the red amid dollar’s comeback. WTI settled around $41.60 a barrel.

The Dow Jones Industrial Average lost 101.13 points, or 0.36%, to end at 2 7,690.31 while the S&P 500 dropped 26.14 points, or 0.78%, to 3,334.33 and the Nasdaq Composite lost 182.74 points, or 1.67%, to 10,785.62.

On Wednesday, the dollar edged lower on the back of prevalent optimism, as investors preferred risk assets. The greenback appreciated only against the JPY, with the pair reaching 107.00.

Gold bottomed at $ 1,862 a troy ounce, recovering some ground afterwards to close the day unchanged around $1,913 a troy ounce.

The Dow Jones Industrial Average DJI rose 289.93 points, or 1.05%, to 27,976.84, the S&P 500 SPX gained 46.66 points, or 1.40%, to 3,380.35 and the Nasdaq Composite IXIC added 229.42 points, or 2.13%, to 11,012.24.

The dollar stayed out of the market’s favor on Thursday, falling against most major rivals but the JPY. The American currency got to advance during US trading hours, backed by better than expected weekly unemployment claims, which unexpectedly fell below 1 million, the first time since lockdowns began back in March.

The EUR/USD pair held above 1.1800, and posted a fourth consecutive daily high. The Pound weakened at the end of the day but holds above 1.30 against its American rival.

The USD/JPY pair advanced to a fresh weekly high just above 107.00 as US Treasury yields got boosted by US employment data, reaching fresh five-week highs.

Gold continued to recover ground, ending the day at $ 1,950 a troy ounce.

The Dow fell 80.12 points, or 0.29%, to 27,896.72, the S&P500 lost 6.92 points, or 0.20%, to 3,373.43. The Nasdaq Composite IXIC added 30.27 points, or 0.27%, to 11,042.50.

On Friday, the dollar remained intrinsically weak, amid mixed US data and news indicating that the US Congress decided to take a month-long holiday without agreeing on a stimulus package. Major pairs, however, closed the week largely unchanged and held within familiar levels.

The USD/JPY pair was an exception, reaching a fresh August high on the back of resurgent US government debt yields.

Gold prices collapsed this past week after hitting all-time highs, to stabilize around $ 1,950 a troy ounce. The metal shed some ground on Friday but held around its new comfort level. Crude oil prices, in the meantime, remained stable, with WTI ending the week at $42.10 a barrel.

Written by;

Nnadi Victor

An Independent Economics Researcher

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